Cryptococcosis Market: By Treatment (Amphotericin B, Flucytosine, Fluconazole, Voriconazole, Surgery Treatment, Others), Diagnosis (Cryptococcal antigen, Bronchoscopy, X-ray, MRI, Lung Biopsy, CSF Polymerase Chain Reaction, Lumber Puncture, Urine Test, CT scan, Others), By End-Users (Clinic, Hospital, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography

Cryptococcosis Market size was valued at USD 5,832.5 million in 2023 and is poised to grow at a CAGR of 5.5% from 2024-2030. Cryptococcosis is a fungal infection caused by Cryptococcus species, mainly Cryptococcus neoformans and Cryptococcus gattii, and primarily affects the lungs, it can also spread to other bodily regions, including the central nervous system (CNS), which can result in infections that are more severe. According to WHO, Cryptococcal meningitis is responsible for an estimated 15% of all HIV-related deaths globally – 3 quarters of which occur in sub-Saharan Africa. It is estimated that 223,100 cases of cryptococcal meningitis result in 181,000 deaths each year among PLHIV. An increase in the population of people suffering from HIV and AIDS who are extremely vulnerable to many forms of diseases, including infections with cryptococcosis drives the cryptococcosis market.

Moreover, the development of more accurate and rapid diagnostic tests for Cryptococcosis for earlier detection and treatment, improving patient outcomes has provided developmental opportunities for research institutes and pharmaceutical companies. Additionally, the market is experiencing profitable expansion potential by virtue of supportive government initiatives for the creation of efficient medications for the treatment of cryptococcal meningitis. For instance, the South African government implemented a South African National Strategic Plan for HIV, STIs, and TB that also complements early detection of cryptococcal disease at PHC clinics rather than delayed diagnosis of cryptococcal meningitis at the hospital level. But rapid diagnostic tests and lumbar puncture are frequently not available, which results in patients not being diagnosed at an early enough stage. The first-line antifungal medications that are used to treat cryptococcal meningitis are pricy and frequently unavailable to save the lives of those who are sick and further hinder the growth of the market. However, the growing prevalence of infectious diseases, greater understanding of the diagnosis increases in government funding, rising healthcare costs and increased adoption of state-of-art diagnostic equipment in healthcare organizations are witnessed to boost the market.

Cryptococcosis Market Key Developments:

• In June 2022, Glenmark Pharmaceuticals. Ltd., announced the acquisition of the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the United States. The acquisition by the company's fully-owned subsidiary Glenmark Pharmaceuticals. Inc., USA includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine.
• In February 2019, The Food and Drug Administration (FDA) granted Orphan Drug designation to APX001 (Amplyx Pharmaceuticals) for the treatment of cryptococcosis. APX001 is a broad-spectrum antifungal that works by inhibiting the fungal enzyme Gwt1.